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| Max Lee joined Jain Global's commodities unit last November. castenoid/ Getty Images |
Maxwell Lee, once hailed as one of Wall Street’s fastest-rising commodities traders, has left hedge fund Jain Global after a tenure that lasted less than 12 months.
Lee joined Bobby Jain’s highly anticipated hedge fund launch in November 2024 as a portfolio manager, following a rapid ascent at Bank of America. There, he earned a reputation as a standout performer, becoming the youngest director in the bank’s commodities unit at just 27, according to his Forbes 30 Under 30 profile in 2023. In his time at BofA, Lee served as head of commodity and FX systematic strategy trading and was later promoted to managing director before making the jump to Jain Global.
Neither Lee nor Jain Global has publicly commented on the departure. Sources familiar with the matter confirmed the move, but did not elaborate on the circumstances.
Jain Global’s Big Launch Meets a Challenging Year
The exit comes during a challenging period for commodities traders across the hedge fund landscape. Jain Global which debuted in 2024 to intense industry buzz and billions in backing operates seven core business units. Commodities, overseen by former Macquarie executive David Hochberg, represented roughly 13% of the firm’s capital allocation as of July, local press previously reported.
While the hedge fund is still in positive territory for the year up 2.4% in 2025 after a modest 0.2% gain in July it’s unclear how the commodities division specifically has performed. What is clear is that commodities strategies have been under heavy pressure industry-wide.
According to data from hedge fund research firm PivotalPath, commodities has been among the worst-performing strategies globally in 2025 and over the last 12 months. Persistent volatility, shifting macroeconomic conditions, and an uneven demand outlook have weighed on returns, leaving many traders struggling to find consistent winning positions.
A Career at a Crossroads
For Lee, the move marks a sudden pivot in a career that had seemed on a steady upward trajectory. His rapid promotions at Bank of America and his role in systematic strategy trading positioned him as a rare talent in the often volatile commodities sector. Joining Jain Global one of the most talked-about hedge fund launches in recent memory appeared to be a natural next step.
Now, his next chapter remains uncertain. Whether he will remain in commodities, pivot to another asset class, or take time away from trading altogether is yet to be seen.
For Jain Global, Lee’s departure adds to the scrutiny surrounding its early performance. The firm’s high-profile launch raised expectations for rapid growth and market-beating results. But with one of its key divisions navigating a difficult market backdrop, and a high-profile hire exiting after less than a year, 2025 may prove to be more of a test than its founders anticipated.
